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Fast cash available: from £75 to £750.

Sep 9th, 2011
by Louise.
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If you need quick cash then there are a limited number of places to go. By the time they get to this event most people will already have exhausted the other options. Banks will eventually stop you borrowing, once you get to the bottom of your overdraft and if they don’t think you’re a great prospect for a loan. You’ll no doubt have tried friends and family. You can take money out on a credit card – not the best option, since it’s subject to higher rates of interest than purchases, but if needs must then you’ve certainly hit your limit there too. If the most cheap loans (and that’s a relative term) aren’t an option, you’re down to less traditional options for fast cash.

This is where you need to be a bit careful. If you need funds and you’ve run out of other options, then you’re down to more expensive loans. And these come in a variety of forms. Some are a necessary evil, others to be avoided completely. Whatever the penalties for non-payment of your existing debts are, they need to be seriously weighed against the impact of a loan – which may simply push the problem a few weeks or months down the line, making it far worse in the process.

So it’s important to know quite what you’re getting into. Log-book loans, for example, put your car up as collateral and can involve enormously high rates of interest – often leading to you losing the car. Doorstep lenders and other loan sharks can be a nightmare. This branch of the industry often operates outside of the law, meaning you lose its protections as well as its restrictions. It also means that, because it’s unregulated, there’s no ‘best practice’. It’s in the interests of these lenders to keep you in debt, never quite paying off your loan. Often their records are sketchy, or non-existent.

The alternative is quick cash from a specialist short-term loans company. These will typically offer fast cash when other cheap loans aren’t possible. The term of the loan is usually around a month: the idea is that you use the money to get out of trouble, not keep rolling the debt over month after month. You can expect to pay around 30 percent a month – not cheap, by any reckoning, but better than a doorstep lender, and within the law too. Many actually offer help and guidelines for staying out of debt in the future, meaning you shouldn’t have to keep returning again and again.

Please visit http://www.cashgenie.co.uk/ for further information about this topic.

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Cash Genie, a responsible lender

May 7th, 2011
by Louise.
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Cash Genie have been offering payday loans for a number of years now. As such, they can allow you some breathing space if you have debts that need paying. However, they are not intended to be a permanent solution. As a responsible lending company, they know that it is best for their borrowers if they are only used as a last resort, and even then only once. The best scenario is to lend the cash to tide people through their problems, but also to give them the skills they need to avoid coming back again.

To a degree, this is actually good business sense. There’s a saying: you can skin a sheep once, but you can shear it many times. It is some lenders’ purpose to keep their clients in debt forever (think your friendly neighbourhood doorstop lender…), thereby collecting the interest indefinitely and ensuring that you are never free. However, this approach (and the broken legs that can come as part of the deal) has to be balanced again the probability of defaulting.

Cash Genie works on a 30-day basis. Their loans are for one month only, and the charge is 30 percent. This is a lot compared to high street banks – if you can secure a loan from them. However, it might be cheaper than the alternative (missing a payment or bill and getting fined, for example). In any case, the loans are not meant to be long-term. The idea is that you have access to the money you need to get you out of temporary financial problems – and don’t come back the next month. In particular, rolling the debt over for another month is a very bad practice, especially if that continues for several months. A debt of £100 would become £130 by the end of the first month, £169 by the end of the second, and £2,330 by the end of the year. (In practice, you are limited to £750.)

Put simply, someone who uses a short-term loans company again and again is probably someone who isn’t very good with money. In other words, they are someone who is more likely to default on their debt, and that’s not good for the client or for Cash Genie. It therefore makes sense to appeal to the sector of the market who need a loan because of temporary adverse circumstances – not through any inherent financial illiteracy.

Please visit http://www.cashgenieblog.co.uk/ for further information about this topic.

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A short term loan is easy to find

Jan 10th, 2011
by Tony.
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Sometimes the wish for a little bit of money to tide one over until the next pay cheque becomes more than just a matter of convenience, and an absolute necessity. There could be numerous reasons for this, such as sudden, unforeseen, but vitally important purchases having to be made. In such a situation a cash advance before the arrival of your next pay cheque can be very helpful. Loan sharks are, of course, to be avoided, but a short term loan from a reputable business does have benefits. One the biggest benefits is that lots of these loan companies provide instant loan approval, meaning that if your need for a loan is exceptionally urgent you will very swiftly get a decision regarding your application.

If you need to borrow money often in order to manage your finances each month then a loan for a short period is probably not the soundest solution for you. There are numerous other solutions you could try in that case, ranging from a full reassessment of your financial situation to a longer term loan for a larger amount, which might have a lower rate of interest.

Short term loans can also be very useful if you have a below average credit rating, because companies frequently decide not to check your credit rating before making a decision on whether or not to lend to you. They will need certain personal information such as the details of your bank account and your home address, but the first time you use them they will only lend you a small amount of money, so they do not usually check your credit rating. It is highly important to remember, however, that if you do not repay the total you owe (including interest) within the agreed time frame your credit rating will be damaged for the future, even if you have only borrowed a very small bit of money.

The instant loan approval that these short term loan firms provide is very useful because it is more than likely that you need the loan because of an urgent problem. Finding a cash advance to tide you over until funds are available to you can help occasionally, but you should always be aware of your obligations to repay the money. Debt is to be avoided as much as possible, but if, say, you are unable or unwilling to borrow from friends and family, or if the interest you will pay on a short term loan is less than the amount you will be required to pay elsewhere, then such a loan may prove useful.

Please visit http://www.cashgenieloans.co.uk/ for further information about this topic.

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Cash genie can help you out if you are in financial difficulty

Oct 20th, 2010
by Anna.
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September means one thing for many young people around the country – freshers’ week.  The mad week of partying that integrates freshers into their new environments can be as much of a strain on the bank balance as it is on the liver.  Indeed, starting university necessitates some prudent  financial planning.  If you do encounter financial difficulties, a company such as Cash Genie will be able to supply  a short term loan for some immediate cash flow, but if you are living away from your parents, paying rent, and not earning, you certainly should start thinking carefully about how you are going to get by financially.

It can be hard to stay aware of exactly what your outgoings are, especially if you are spending a lot of your money at the pub.  A good way to deal with this is to keep a record of what you spend every day, as this should help you to plan your future outgoings and help you identify where you may be able to lower your spending.  It may sound geeky, but it will hardly take any time to make a chart on your computer where you note down where your money has gone over the last few hours or days, and this will certainly help you keep on top of where your money is going.

Many students are able to hold down jobs while they are away at university, but it is impossible to know until you are actually into your course what the demands will be on your time.  A course with only six hours of lectures a week may sound easy, but you will soon find that a lot of independent reading will be required – and only after a few weeks will you learn how long this takes.  At this point you will know how many hours a week you can commit to working.  If you can fit it around your studies, getting a part time job may be a great idea.  If you can make your own money while you are studying, you will have less financial stress, and it will also be a useful addition to your CV, illustrating that you can juggle academic commitments with outside activities, and that you have taken control of your own money.

It is not impossible to manage your finances while you are studying – most students do manage to get by without needing to call in the services of a Cash Genie. There are so many ways of saving money that it is up to you to make the most of them – there will probably not be another time in your life when so many things are so cheap!  They say your time at university should be the best days of your life, so don’t let money worries ruin it.  Just follow this advice, plan your spending and keep an eye on it, and perhaps even try to earn a little money of your own, and you should be able to enjoy student life with no worries!  Apart from that next essay deadline, perhaps.

Please visit http://www.cashgenie.co.uk/ for further information about this topic.

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Advice from cash genie on how to live on a student budget

Oct 2nd, 2010
by Louise.
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Studying for a degree from a university provides more than just an academic qualification – it prepares you for life in the ‘real world’.  For many students being a university student is their first ever experience of living away from home.  This can be a learning curve in many different ways.  Cooking for yourself, getting down to work without anybody telling you to get off Facebook, and sorting your own cash flow, are all important skills that you will probably pick up at university.  For many students, staying on the right side of their overdraft is one of the most difficult challenges of student life – and there are certainly many who find themselves wishing for a Cash Genie who will provide them with a little bit of extra money to see them through until the end of the term.  Sometimes, following a few simple bits of advice can stop you from getting into too much financial difficulty.

One of the main expenses of the typical student is text books.  It is not unusual to be given a list of necessary books not long before you arrive, or when you sign up for your modules, that look as if they will cost you hundreds of pounds.  Many keen freshers will think they need to head straight to the shops, but there are lots of ways of getting your necessary materials without going straight into your student loan.

Your university library is obviously a good place to begin, but this is likely to have only a few copies of every item, so if there is a really crucial book that you are likely to need for a whole year (not just for one essay, for example), then it is often worth buying a copy of your own.  Students in the year above you are likely to have similar items that they no longer need, so check online postings or noticeboards in your department, where they are likely to be advertising their books at cheap prices.  Otherwise, the internet is a great place to find second hand books, which are always significantly cheaper than new ones, and may even have the relevant bits helpfully highlighted!

It may be of some comfort to know that there are companies such as Cash Genie who can provide immediate loans if you need money quickly.  But life at university doesn’t have to be expensive – as a student you can buy so many things for low prices that it really is possible to live on a tight budget. Just remember that the bar’s offer of three triple vodkas for a fiver might not be as good an idea as it seems!

Please visit http://www.cashgenieblog.co.uk/ for further information about this topic.

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